P. N. Gadgil Jewellers

Last updated

P. N. Gadgil Jewellers
FormerlyPurshottam Narayan Gadgil Jewellers
Company type Public
NSE:  PNGJL
BSE:  544256
Industry Jewellery
Founded29 November 1832;192 years ago (1832-11-29)
FounderGanesh Gadgil
Headquarters Pune, India
Number of locations
53 showrooms
Area served
Worldwide
Key people
Saurabh Gadgil (chairman & MD)
RevenueIncrease2.svg₹76,934.68 (US$910) (FY 2024–25) [1]
Increase2.svg₹2,182.68 (US$26) (FY 2024–25) [1]
OwnerGadgil family (83%)
Number of employees
+2,100
Subsidiaries Gadgil Diamonds Private Limited, India
PNG Jewelers, Inc., USA
Website www.pngjewellers.com
Footnotes /references
[1]

P. N. Gadgil Jewellers Limited, also known as Purshottam Narayan Gadgil Jewellers, is an Indian jewellery company founded by Ganesh Gadgil in Sangli in 1832. It is one of the oldest jewellery companies in India, [2] known for its production of Jewellery distinctive to the Maharashtra. [3] As of 2025, the company is headquartered in Pune and operates 53 retail stores, including 52 in Maharashtra and Goa and one in California, US. [4]

Contents

History

Early years (1832–1890)

The company was founded as Gadgil Jewellers on 29 November 1832 by Ganesh Gadgil in Sangli. In its early years, the business operated without a permanent storefront and was initially run from a pavement in a busy part of the city. [5] [6] In 1860, Gadgil relocated the business to a waada (traditional residence) he had purchased in Sangli. [7] Under Gadgil's father, the family had previously served as savakars to the Kolhatkar and Modak families of the Princely state of Sangli, and were thus accorded the office of royal jeweller to the Patwardhan kings of the State after the establishment of their jewellery business. [8]

1890–1958

Although Gadgil intended all three of his sons to participate in the business, it was eventually continued by his middle son Narayan Gadgil. His other sons, Ramchandra and Gopal, pursued careers in moneylending and law, respectively. In 1874, Ganesh Gadgil renamed the business P. N. Gadgil Jewellers after his grandson, Purshottam Narayan Gadgil. [9] [6]

Following Ganesh Gadgil’s death in 1890, Narayan Gadgil and his sons managed the company. After Narayan’s death in 1920, management passed to Purshottam Gadgil and his brothers, Ganesh Gadgil II and Vasudev Gadgil. Upon Purshottam’s death in 1954, the business continued under the leadership of the extended family’s next generation. [10] [11] [12]

Expansion to Pune (1958–2012)

In 1938, Anant Gadgil, the younger son of Ganesh Gadgil II, joined the family business and worked at the Sangli store for nearly two decades. In 1958, he and his cousin, the son of Vishwanath Gadgil, established a new retail outlet in Pune under the name P. N. Gadgil Jewellers & Company, located on Laxmi Road. [10] [11] [12] This marked the beginning of operations in two locations under the same brand. The Pune branch was managed by Anant, Vishwanath Gadgil, and Laxman Gadgil, while the Sangli branch was overseen by Hari, the son of Vasudev Gadgil, and Shankar, Anant’s elder brother. [13] Following the death of Vasudev Gadgil in 1965, the Sangli branch continued under the management of his descendants. [14] [15]

Formal separation and IPO (2012–present)

In 2012, the Pune and Sangli branches formally separated, with the Pune operations continuing under the name P. N. Gadgil & Company. [15] After Anant Gadgil's death in 2014, his son and grandson, including Saurabh Gadgil, inherited a portion of the business. [16] [17] Saurabh Gadgil, who had joined the company in 2000, later became its chairman and managing director. During his tenure, the company was restructured as a corporate entity. [18] In September 2024, the company held an IPO that raised approximately ₹1,100 crore. It was subsequently listed on the Bombay Stock Exchange and the National Stock Exchange. [19] [20] Following the IPO, the Gadgil family retained a majority ownership stake in the firm. [18]

Operations

PNG Jewellers uses a combination of company-owned and franchise-operated stores. In 2014, PNG Jewellers established a diamond manufacturing unit in Mumbai. [21]

As of 2025, PNG Jewellers operated 53 outlets, including 52 stores across 21 cities in Maharashtra and Goa, and one store in the United States. [22] Of the total, 41 stores were company-owned, while 12 operated under the FOCO model. [23]

References

  1. 1 2 3 "PNG Jewellers Releases Annual Report for FY25, Revenue Reaches ₹76,935 Million". Money Control.
  2. ↑ "P N Gadgil Jewellers hits 10% upper circuit on dazzling Q3 show; PAT up 49%". Business Standard.
  3. ↑ Sabyasachi, Dasgupta; Priya, Grover (20 July 2018). Optimizing Millennial Consumer Engagement With Mood Analysis. IGI Global. p. 195. ISBN   978-1-5225-5691-6.
  4. ↑ "PNG Jewellers strengthens retail footprint with store in Pune". FashionNetwork.com. 26 March 2025. Retrieved 27 June 2025.
  5. ↑ Joshi, P. K. (1989). Gadgil Kulavruttanta[The Gadgil Family Genealogy Almanac] (in Marathi). Pune. p. 93.{{cite book}}: CS1 maint: location missing publisher (link)
  6. 1 2 Deshpande, Renuka (11 September 2011). "Gadgil Jewellers 179-year-old journey from footpath to international showrooms". DNA .
  7. ↑ Joshi (1989), p. 93.
  8. ↑ Joshi (1989), pp. 93, 95.
  9. ↑ Joshi (1989), pp. 95.
  10. 1 2 Joshi (1989), pp. 95–97.
  11. 1 2 Bhargava, Gopal K.; Bhatt, S. C. (2006). Land and People of Indian States and Union Territories: In 36 Volumes. Maharashtra. Gyan Publishing House. p. 336. ISBN   978-81-7835-372-2. P. N. Gadgil and Company - Licence and Address
  12. 1 2 "Gadgil Jewellers 179-year-old journey from footpath to international showrooms". DNA India. Retrieved 6 August 2024.
  13. ↑ Joshi (1989), pp. 96–99.
  14. ↑ Joshi (1989), pp. 98.
  15. 1 2 Bulletin of the Institution of Engineers (India). University of Illinois at Urbana-Champaign: Institution of Engineers (India). 1979. p. 13. P N Gadgil & Co, Jewellers of Poona
  16. ↑ "P N Gadgil Jewellers founder 'Dajikaka' dead". The Indian Express . 11 January 2014. Three founders of the P N Gadgil Jewellers are dead. others branches are owned by Akshay and Rohan, grandsons of Laxman and Ajit, son of Vishwanath.
  17. ↑ Pahwa, Saloni (January 2016). Haute Brides & Honeymoons. Pioneer Book Co. Pvt. Ltd. p. 71.
  18. 1 2 Palepu, Advait (17 October 2024). "Jeweler Becomes Billionaire After 192-Year-Old Indian Firm's IPO". Bloomberg News.
  19. ↑ "PN Gadgil Jewellers IPO: What GMP signals ahead of share listing date".
  20. ↑ "PN Gadgil Jewellers IPO listing date today. GMP, experts indicate strong debut of shares on BSE, NSE". Live Mint.
  21. ↑ "पी. एन. गाडगीळ ज्वेलर्सचे हिरेजडीत दागिने निर्मितीत". Loksatta (in Marathi). 24 December 2014. Retrieved 29 February 2024.
  22. ↑ "Strengthening retail presence with trust" (PDF). Motilal Oswal Research report.
  23. ↑ "Announcement under Regulation 30 (LODR)-Investor Presentation" (PDF). BSE India. Retrieved 15 May 2025.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.